Hong Kong's Financial Secretary, Paul Chan, stated in a blog post on August 23rd that the ongoing artificial intelligence boom is injecting strong momentum into the city's economy and consumer market. The government is promoting the implementation and widespread application of AI across all fields in a comprehensive manner.
According to Chan, the ongoing "Hong Kong Computer & Communications Festival 2026" has seen consumer demand for related electronic products ignited by the AI trend, boosting sales. He noted that the event, themed "AI Implementation, Wisdom Leading the Future," features multiple thematic and specialty zones covering innovation and technology sports, green tech living, and smart campuses, allowing citizens to experience AI applications firsthand. For the first time, the festival is co-organizing an "AI and Digital Transformation Zone" with the Productivity Council, offering interactive workshops for businesses on topics such as enterprise tech transformation, cybersecurity, and professional services.
Chan highlighted that AI development has significantly aided Hong Kong's economy and financial markets. Benefiting from strong global demand for AI-related products, Hong Kong's exports have recorded high double-digit growth for several consecutive quarters. In the capital markets, from December last year to May this year, new share fundraising related to AI in Hong Kong reached nearly HK$100 billion, accounting for about 55% of the total during that period. Hang Seng Index Company has recently included several AI-related firms in its indices, reflecting their growing importance in the economy. Research reports estimate that if Hong Kong's small and medium-sized enterprises can match the AI adoption rate of larger companies by 2035, it could unlock economic benefits of up to HK$65 billion for the city.
The government's own operations are also being empowered by AI more deeply, with the AI Efficiency Enhancement Unit having facilitated the first batch of 30 efficiency improvement projects involving 13 departments. Chan pointed out that as technology rapidly evolves, enhancing the AI skills of the workforce becomes crucial. This year's government budget has allocated HK$50 million to launch a "Universal AI Training" program. Through collaborations with Cyberport, the Science and Technology Parks, and the Productivity Council, the goal is to hold over 200 events in the next two years, expected to benefit approximately 50,000 participants. Additionally, the Employees Retraining Board plans to partner with major tech companies in November to offer AI courses to working professionals in Hong Kong.